The EU Commission welcomes entry into force of new rules concerning card payment transparency

Antitrust: Commission welcomes entry into force of new rules to boost card payment transparency* The European Commission welcomes the entry into force on 9 June 2016 of new rules to make the costs of payments with debit or credit cards more transparent to retailers and consumers and allow them to make efficient choices. All elements of the Interchange Fee Regulation are now fully applicable. Commissioner Margrethe Vestager, in charge of competition policy, said: "Many consumers use payment cards every day when they buy in shops or online. For years, the fees charged by the banks for these card payments were largely kept in the dark even though the costs are ultimately paid by consumers. The Interchange Fee Regulation has capped these fees and made card payments more

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European Commission, The EU Commission welcomes entry into force of new rules concerning card payment transparency, 9 June 2016, e-Competitions Bulletin June 2016, Art. N° 80037

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